Rihal Secures $7.5M in Series A Funding Led by ITHCA Group

Rihal, one of the region’s foremost technology and data solutions providers, has secured $7.5 million in the first close of its Series A funding round, led by ITHCA Group, with the company targeting a total of $15 million. The investment is set to support regional and international expansion while scaling Rihal’s enterprise SaaS and AI-driven platforms. Founded in 2021, Rihal provides data, software, and AI solutions to clients across multiple sectors. The investment was led by ITHCA Group, the investment arm of the Oman Investment Authority, which was founded in 2019 to focus on long-term value creation in the ICT sector. The company has recorded a compound annual growth rate of 119%, expanding its operations into industries including government, logistics, telecommunications, and oil and gas. The company now employs more than 300 professionals, with 80 percent in technical roles. Its workforce is 90 percent local and 43 percent female, reflecting a commitment to sustainable talent development. The latest funding was described as recognition of Rihal’s growth trajectory, its capacity for innovation, and its ability to scale across high-value sectors. The company’s approach has also been highlighted as a model with the potential to expand into emerging markets. A second close of the Series A round is now open, with Rihal seeking strategic investors aligned with its mission of simplifying data management and advancing analytics.